As a layman it seems the whole housing system was more straightforward years ago. Developers sold 100% to private buyers, the majority to owner occupiers and some to buy to let investors. Councils built homes for people who couldn't afford to buy from private developers.
People traded-up so releasing smaller or less expensive properties for FTB. Council tenants had a right to buy when their circumstances improved so releasing them from a lifetime of paying rent and councils from the maintenance costs.
There was plenty of places to rent privately at reasonable cost as well as higher spec for those with bigger budgets.
Where did it all go wrong?
Is it because councils stopped building and that caused a domino effect?
People traded-up so releasing smaller or less expensive properties for FTB. Council tenants had a right to buy when their circumstances improved so releasing them from a lifetime of paying rent and councils from the maintenance costs.
There was plenty of places to rent privately at reasonable cost as well as higher spec for those with bigger budgets.
Where did it all go wrong?
Is it because councils stopped building and that caused a domino effect?